TORONTO (miningweekly.com) – Uranium miner Uranium One, which watched its stock drop almost 40% in Toronto on Wednesday, regained some lost ground on Thursday.

Shares in Uranium One rose 21% to C$2,42 apiece by 15:59 ET.

In Johannesburg, where the company's stock is more thinly traded, shares fell 4,86% for the day, to R17,60 each, after falling as low as R15,00 earlier in the day.

Trading in Uranium One’s shares were halted for most of Wednesday morning in Toronto, after the company’s stock plunged by 29,5%. The decline continued after the halt was lifted later in the afternoon.

After arresting the head of State uranium company, Kazakhstan's National Security Committee (KNB) said that it was investigating deals made by the disgraced CEO, who had “illegally” sold stakes in uranium assets.

The KNB said that the sale of 30% in the Kyzylkum joint venture, which owns the Kharasan mine, was one of the transactions being investigated.

“Well, we do own a 30% stake in Kyzylkum, but we most certainly did not buy it from Kazatomprom,” CEO Jean Nortier told Mining Weekly on Wednesday.

The company paid the full value for its assets in Kazakhstan and received government approval for all transactions at the time.

The firm is seeking clarifications and has requested a high-level meeting with the new leadership of Kazatomprom.

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